Could not find the taxonomy group error during Visual Studio deployment

We recently updated a SharePoint branding solution to have a custom content type which included Managed Metadata fields.

When I attempted to deploy this solution to my development farm, however, I got this error when trying to Activate the feature:

Count not find the taxonomy group Parameter name: name Actual value was Global.

The cause was that I had not set up the Managed Metadata term store yet with the term hierarchy referenced in the custom content type.  Once I created the Group and Term Sets to match our production environment, the deployment and activation succeeded.